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Ball Corp. Uses Accounting Change to Lift Op Income $49 Million, Or 4%
New useful life estimates had an even larger impact on the can maker’s annual EPS.
February 21, 2023
Ball Corporation (BALL), a supplier of aluminum packaging products for the beverage, personal care, and household products industries, says its manufacturing equipment, buildings and certain assembly and test equipment is suddenly lasting longer. Previously disclosed in a November 2022 filing, Ball quantified the full year impact of its new useful life estimates in its latest annual report.
The move reduced depreciation expense by $49 million. The after-tax impact of $37 million added $0.12 to EPS, or 5.6%.
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